This interactive session, moderated by Andy Velkme, CIPS, featured a panel of wide and diverse expertise on international commercial real estate transactions. Panelists included Alex Ruggieri, CCIM, CIPS, CRE, GRI, Attorneys Bill Price and Beth Trachtenberg, Erik Brejla of the Illinois Dept. of Commerce and Economic Opportunity, Stephen John, CEO of Home Services Relocation, Kelly Petrin of Moneycorp, a currency exchange firm, and James Huang, President of Sperry Commercial Global Affiliates.

Velkme and Huang role-played the beginnings of a global commercial transaction, with Huang acting as broker and Velkme in the role of CEO of a successful European technology company seeking to enter the U.S. market.

The realistic exchange exposed common details about such transactions and provided great fodder for panel discussion. Price and Trachtenberg counseled working early and methodically to structure deals in enough time to produce the greatest advantages and fewest legal roadblocks. Kelly Petrin underscored the role of timing international transactions well, emphasizing how “having someone that’s specialized in the currency is important.” Petrin also pointing out currency market fluctuations are unpredictable, often very costly, and call for careful hedging and analysis.

“Thomas Friedman got the world’s attention in “The world is Flat” by noting that we are more connected today than we ever have been in the past. I believe NAR’s global focus on real estate is not only needed but also critical to our industry. The transactions of the future will be international and commercial members need to be prepared!” –ALEX RUGGIERI, CCIM, CIPS, CRE, GRI

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